Bhubaneswar: The Odisha government has given in-principle approval for the proposed Satellite Major Port project in Ganjam district.
The project has been approved for development over 5,005.195 acres of saline land in the Bahuda estuary area.
NBS Rajput, Principal Secretary of the Odisha Commerce and Transport Department, has conveyed the state government’s decision to the Secretary of Union Ministry of Ports, Shipping and Waterways, the Chairman of Paradip Port Authority and the Managing Director of Sagarmala Finance Corporation Limited.
In the letter, Rajput has stated that the state government has granted in-principle approval for the development of the proposed Satellite Major Port at Bahuda estuary. Approval has also been given for the initiation of the process to form a Special Purpose Vehicle (SPV) involving Paradip Port Authority, Odisha government and Sagarmala Finance Corporation Limited for the project.
Such a proposal has been under discussion for several years. The in-principle approval is expected to facilitate the next stages of the project, including institutional arrangements for its development.